Because of the hike in interest rates in the United States, several banks in Panama are already increasing mortgage rates by between 0.25% and 0.50%.
According to representatives of the Banking Association of Panama (ABP), the increase in mortgage loans is mainly due to the upward adjustment that interest rates are experiencing worldwide, which will affect the Panamanian market in the short and medium term.
During the first eight months of the year, 98,769 properties were registered, 9% less than those reported in the same period of 2017.
According to the most recent figures of the General Comptroller, between January and August 2017 and the first eight months of this year, vertical properties reported a decrease of 11%, falling from 84,627 to 75,036.
After the Malaga City housing project was acquired by ALD Inmobiliaria in Costa Rica, the construction company has re-started work on the 1,600-unit condominium.
In August, in order to reactivate the project under the name "Residencial Terra Verbena", the acquisition of the residential complex "Malaga City" located in Alajuelita by ALD Inmobiliaria from Rock Constructions was reported.
Organization that operates in Panama and Panama.
Phone: (507) 3454542
World Panama real estate marketing promotes city and beach property listings for sale or rent with international syndication to more then 80 real estate web portals worldwide.
It is expected to invest $14 million in the infrastructure of an apartment building, which will have 109 housing units and will be located at kilometer 16 of the road between San Salvador and La Libertad.
The project, called AtLoft, will be developed by Tuscania Corporate & Business Park (TCBP), and according to its representatives, the complex will include a total area of seven blocks. The construction works are expected to start in March 2019.
On October 6th and 7th, 30 real estate development projects focused on the high socioeconomic population will be presented in Guatemala.
The projects to be presented at the event called Luxury Real Estate Guatemala are part of the top class and are located in the 10, 13, 14, 15, 16 and Muxbal areas.
During the first half of 2018, 203 environmental impact studies were presented in Central American countries to develop condos, apartment buildings and other housing projects.
The interactive platform "Construction in Central America", included in the Business Intelligence Unit at CentralAmericaData, lists updated public and private construction projects that present environmental impact studies (EIA) to the respective institutions of each country.
At the end of the first half of 2018, the inventory of apartments in the country's capital reached 17,871 units, 5% more than reported at the beginning of the year.
At the end of the first half-year, the absorption of units of apartments built and in progress has decreased, from 92.3% to 87.4% in the first semester of 2018 according to a report by CBRE.
An international tribunal has ruled in favor of the Costa Rican government in a legal process in which US investors denounced arbitrary actions in the development of a real estate project in Esterillos beach.
From a statement issued by the Ministry of Foreign Trade:
In El Salvador, a construction project has been announced for 2019 which consists of building a mini-city, whose master plan will be developed over a period of 15 years.
According to representatives of Urbánica, the developer that is promoting the mega project, it will be located in the Norponiente sector of Greater San Salvador, in the municipality of Apopa in the area known as El Ángel, and the project is currentlyin the phase of negotiations with government authorities.
Between January and June the average rental price per square meter requested from warehouses in Panama City dropped from $8.95 to $8.40, due to a slight increase in the supply of available spaces.
In Panama City a reduction of almost 20% in the prices of residential rents has been reported, particularly in areas that five years ago registered the highest prices in the capital.
The high supply of apartments and houses in residential areas has pushed down prices, especially in areas such as Paitilla, Balboa Avenue and Costa del Este, where in 2013 2 and 3 bedroom apartments were rented at prices above $2,000 and $3,000 a month.
Construction has been announced of a horizontal housing complex containing 39 homes, in the municipality of Nuevo Cuscatlán, in the department of La Libertad.
The construction company Algasa stated that it will begin construction of the residential complex called "Altema Family Townhouses" which will be built in two phases, the first one whose works will begin next month includes the development of 19 townhouses that will be ready in the last quarter of 2019
A horizontal condominium in Panama, the restoration of a building in Costa Rica and an office tower in Guatemala are some of the projects planned for the coming months in the region.
The interactive system "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private construction projects that are planned to be built soon.
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
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Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
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